U.S. extends application deadline for nuclear power rescue program
2022.05.18 20:21
FILE PHOTO: Spent fuel storage is seen at the San Onofre Nuclear Generating Station near San Clemente, California, U.S., April 21, 2022. REUTERS/Nichola Groom
WASHINGTON (Reuters) – The U.S. Department of Energy said on Wednesday it has extended a deadline by 47 days, to July 5, for nuclear power plants to apply for federal funding to keep them running.
The first stage of the program is aimed at saving two plants, one in California and one in Michigan. The Biden administration wants to keep nuclear generators online because the industry generates more than half the country’s carbon-free electricity.
The DOE statement came two days after two industry trade groups, Edison Electric Institute and Nuclear Energy Institute, sent a letter to Energy Secretary Jennifer Granholm requesting the extension on behalf of their members.
“We received a request to extend the application period, which could keep at-risk reactors online, delivering much needed clean energy to the grid,” DOE’s assistant secretary for nuclear energy, Kathryn Huff, said in the statement.
Under the program, which was launched last month, owners of nuclear reactors that are scheduled to retire can apply for a portion of $6 billion in available funding.
Entergy Corp (NYSE:ETR)’s Palisades plant in Michigan, which may be eligible for the funding, is due to shut down on May 31. The Diablo Canyon facility in California, owned by PG&E (NYSE:PCG) Corp, is scheduled to retire in 2025.
